Stimulus package provides relief for businesses buying equipment

By CCJ Staff

The economic stimulus package passed last week by the
U.S. House and Senate and signed by President Bush provides enhanced expensing
and depreciation relief for businesses buying equipment and placing it into
service this year.

A trade or business can depreciate an additional 50 percent of the cost of an
asset acquired and placed into service in 2008. Eligible properties for bonus
depreciation include (1) tangible property that had a recovery period not
exceeding 20 years, (2) purchased computer software and (3) qualified leasehold
improvement property.

Bush signed the two-year $168 billion economic stimulus package on Wednesday,
Feb. 13, hoping it would deliver "a booster shot" to an ailing American economy.
Bush said the world's largest economy had overcome shocks in the past and
expressed confidence that the giant economic aid plan would help the economy
through a "rough patch."

The economic stimulus package, which also includes tax rebates to individual
taxpayers, is effective for calendar year 2008.

Testimonial from Bill Collions, IDTS

Testimonial from Joey Hogan, Covenant Transport

Thank you CVTA! I have been blessed over the past 16 years to be part of many great associations that are the heartbeat of the trucking industry. This past week was my first time at a CVTA event and I can't tell you how impressed I was with the passion and professionalism you all possess for training our future drivers. As an employer of 1260 students in 2013, I want you to know how much I appreciate the dedication you all have to training the future drivers of America.

I know we are all facing more and more regulations from the federal and state governments and I committed to Don at the conference that I will make any contacts or send any letters from Covenant to our officials that the CVTA feels would be beneficial. Thank you again for what you've done for Covenant but importantly what you do for the industry as a whole.